Key fundamentals to ensure Bahrain's economic growth

Despite recent events, the economic fundamentals that have seen Bahrain through economic challenges in the past will ensure its continued growth.

Despite recent events, the economic fundamentals that have seen Bahrain through economic challenges in the past will ensure its continued growth.

That was the message from Bahrain Mumtalakat Holding Company Chief Executive Officer Talal Alzain yesterday at the annual conference of the Chartered Institute of Securities and Investment in London.

"Over the past five months, Bahrain's economy has demonstrated its resilience, built as it is on past experience, a sound regulatory framework and enlightened economic policy," Mr Alzain said.

"The Bahrain economy is recognised internationally as the most diversified economy in the Gulf, with high value-added sectors such as financial services and manufacturing featuring heavily in the economic mix.

"Indeed, financial services now exceed the oil sector as the largest contributor to the national economy, representing 26.59 per cent of gross domestic product," he said.

In promoting the continuing attractions offered by Bahrain to international investors, Mr Alzain reviewed the role of Mumtalakat and the successful operations of its portfolio companies in 2011 despite significant challenges.

Insight was also provided into Mumtalakat's future plans in supporting Bahrain's economy.

"From a future investment perspective, we have a responsibility to support Bahrain's economy through intelligent investments, which also have the potential to generate real returns," he said.

"We believe that there are a number of opportunities out there, which will also support our strategy of portfolio diversification.

"Intensive studies and analysis are being undertaken to identify those sectors where there is growth and demand and where we will be able to offer financial support to Bahrain's entrepreneurs and start-ups as active investors.

"It forms a central part of our mission to grow the wealth of Bahrain and offers exciting opportunities for the future," he said.

"We are in no doubt that the underlying fundamentals and robust regulatory environment provide comfort in Bahrain, whilst the exciting combined economic potential of the GCC as a whole offers the opportunity for real and sustainable returns," he added.